Audit Manager - Regulatory Compliance

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed.

We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.

S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career.

Try new things, learn new skills and discover what you excel at all from Day One.

Job Description

The Corporate Audit Services Audit Manager supports internal audit leadership, in providing the Audit Committee and senior management with independent assurance and advisory services designed to evaluate and improve the effectiveness of risk management, control, and governance processes of U.

S. Bancorp (USB), affiliates, wholly owned subsidiaries and entities where USB owns a majority (controlling) interest.

The Audit Manager supports the assessment of the Company’s risk and control environments within the auditable entities, determine appropriate audit cycles, maintain an effective continuous monitoring program, and make necessary adjustments to the audit plan.

The Audit Manager will lead a team of audit professionals and is responsible for managing assigned personnel in accordance with U.

S. Bank Human Resources policies and internal audit policies and procedures to achieve audit plan completion. The Audit Manager is expected to recruit, hire, and develop assigned staff to ensure audit engagements are completed in conformance with internal audit policies and procedures.

Key Responsibilities :

Supervising audit staff in the completion of audit engagements, ensuring the highest quality work delivered timely. Supervision includes :

Planning audit engagements.

Assessing work performed by lead auditors.

Performing sufficient reviews to ensure work contains relevant facts to support audit scope and conclusions and adhere to internal audit policies and procedures.

Drafting audit reports which communicate audit opinions and audit issues in a timely, clear and concise manner.

Monitoring progress of audit engagements against plan and schedule and making necessary adjustments.

Completing or assisting the audit director in developing the risk-based audit plan. Includes identifying auditable entities and assessing risk within the auditable entities;

determining appropriate audit cycles and audit strategy; and determining necessary audit resources and estimated expenses associated with completion of a forward looking 12 18-month audit plan.

Also includes performing continuous monitoring activities (working closely with senior management and risk management) and adjusting the audit plan when appropriate.

• Maintaining requisite knowledge of laws and regulations applicable to U.S. Bancorp products, services, and processes. Includes monitoring financial service industry trends, changes in relevant laws and regulations, and evaluating the impact(s) to auditable entities and the audit plan.
• Preparing and reviewing board, committee, and other stakeholder reporting for completeness, consistency with other internal audit materials, and accuracy of the most up-to-date information, not limited to information internal audit is reporting.
• Interacting regularly with business line and risk management leaders, regulators, and external subject matter experts.
• Collaborating across the three lines of defense regarding business processes, risks, and controls. Coordinating audit activities by integrating other internal audit subject matter teams (Information Technology, Anti-Money Laundering, Compliance, Risk Management, Treasury, etc.

to ensure appropriate and efficient coverage of the business products, services and processes. Managing the team’s workload to assist other audit teams when resources are needed for areas of higher risk.

• Managing, motivating, and developing assigned personnel in accordance with U.S. Bank Human Resources policies and internal audit policies and procedures.
• These duties include active participation in recruiting activities; establishing and managing development plans for assigned personnel;

and providing quarterly performance feedback and annual performance evaluations for assigned personnel. Also includes addressing performance problems promptly.

Performing other duties as requested by management.

Preferred Skills / Experience

• Bachelor's degree, or equivalent work experience
• Ten or more years of experience in an applicable risk management environment
• CRCM, CIPP, CIA, CPA or other relevant professional designation or advanced degree.
• Advanced knowledge of applicable laws, regulations, financial services, and regulatory trends
• Advanced understanding of the business line’s operations, products / services, systems, and associated risks / controls
• Excellent verbal and written communication skills.
• Strong critical thinking and analytical skills.
• Ability to manage multiple tasks and deadlines simultaneously.
• Proven adaptability to changing priorities.
• Thorough understanding and / or ability to analyze and evaluate applicable laws and regulations to execute audits to assess the adequacy of first and second lines of defense compliance risk management practices.
• Ability to build and continuously improve working relationships with internal audit peers, business line leaders, and partners (risk and compliance).
• Ability to independently address unique and complex conflicts with business line and effectively negotiate as needed.
• Thorough understanding of Institute of Internal Auditors (IIA) Standards and the common definition of internal controls.
• Relevant Financial Service Industry knowledge (e.g., Credit, Models, , Lending, Operations, Trust, Treasury, Merchant Acquiring, Credit Cards consumer and corporate , etc.).

indmo

The role offers a hybrid / flexible schedule, which means there's an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants .

Benefits :

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work.

That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind.

Our benefits include the following (some may vary based on role, location or hours) :

Healthcare (medical, dental, vision)

Basic term and optional term life insurance

Short-term and long-term disability

Pregnancy disability and parental leave

401(k) and employer-funded retirement plan

Paid vacation (from two to five weeks depending on salary grade and tenure)

Up to 11 paid holiday opportunities

Adoption assistance

Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law